It's definitely been cancelled. But there's a paperback compendium on the cards for September - http://prhinternationalsales.com/boo...=9781779504548. Despite the contents listed, I'd say it will collect the same material that was going to be in the Absolute. I'd take the release date with a grain of salt as well, what with everything going on at the moment.
We should have more concrete information whenever the monthly comics market solicits start up again.